Elevance Health, Inc. (NYSE:ELV) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 24.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,419 shares of the company’s stock after selling 7,399 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Elevance Health were worth $8,639,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Elevance Health during the fourth quarter valued at approximately $1,135,014,000. First Eagle Investment Management LLC lifted its holdings in Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after purchasing an additional 895,658 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Elevance Health by 309.7% during the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after buying an additional 538,978 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in shares of Elevance Health by 17.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company’s stock valued at $1,060,901,000 after buying an additional 437,103 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ELV. Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a report on Friday. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Wells Fargo & Company dropped their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Truist Financial reduced their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Stock Up 0.8 %

NYSE:ELV opened at $435.48 on Tuesday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The stock’s fifty day moving average is $405.47 and its two-hundred day moving average is $419.64. The stock has a market capitalization of $99.01 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.57%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.